[ad_1]
Living in America is expensive and even out of reach for some. With inflation hitting record highs and pump prices skyrocketing, many families are looking for ways to cut spending.
Cash App Borrow: How to Borrow Money with Cash App
See also: If your credit score is below 740, take these 4 moves now
It’s not easy, but there are ways to save big on your bill. The first step is to write down all the money you spend each month. Access your credit card and bank statements to see exactly where your money is going. Living on a budget isn’t always easy, but it will pay off.
If you need help getting your financial future on track, consider these 5 sneaky ways to cut your household expenses in half.
Save energy with smart moves
Want to do good while saving money? Taking the time to weatherstrip and insulate your doors and windows can quickly solve a big problem. The cost is very reasonable considering how much you end up saving on your electric bill.
Families looking to save on their utility bills “should consider sealing air leaks around doors and windows. Damaged caulking and weatherstripping allow cold or warm air to escape,” says Credit Summit Consolidation. said Carter Seuthe, CEO of Left unaddressed, these issues can lead to higher energy bills.
According to the U.S. Department of Energy, weatherstripping or sealing is inexpensive and can save you 5% to 10% on your utility bills. A simple solution can lead to significant savings. As an added bonus, not only will you save on your monthly bill, but you’ll be one step closer to saving the planet. Other ways to save money on your utility bills include investing in smart appliances and unplugging the ones you aren’t using.
Take the poll: Struggling to pay your utility bills?
Consider debt consolidation
Melanie Hanson, Editor-in-Chief of EDI Refinance, said:
Consumers who choose this approach, she warns, “need to pay attention to terms, not just interest rates.” “Different structures of consolidation loans can lead to very different outcomes,” she said.
Store in store with multiple tricks
Food prices soared. All food prices are expected to rise by 9% to 10% in 2022, according to the United States Department of Agriculture (USDA). Rising food prices are hitting all Americans. Not only is restaurant shopping expensive, but grocery store groceries are also getting more expensive.
Deacon Hayes, founder of Well Kept Wallet, says families “need to buy in bulk when items are on sale.” He also suggests that people consider “buying generics when it comes to items like bleach and spices.” Plan your meals ahead of time and stick to a grocery list to help you stay healthy,” he said.
Reduce transportation costs
For many people, transportation costs are a big part of their monthly expenses. Whether high gas bills are eating up your savings or you can’t help but call Uber, there are ways to cut those costs.
Damien Serwin, co-founder of Why Budgeting, says families need to rethink their transportation options and see if they can cut it down to one car. “It could lead to potential savings in monthly car payments, fuel, insurance, and taxes or related repairs,” he said.
Hayes, who uses Well Kept Wallet, also suggested buying car insurance at a better price. He said, “If you have a good driving record, I recommend contacting your auto insurance broker to see if the same coverage will get you a lower monthly premium.” You can save $150.
cancel those subscriptions
As you may have heard, one of the easiest ways to save big is to get rid of things you no longer use. Amar Vig, managing director of London FS, suggests reviewing spending to see if there are any “publications, streaming services or subscriptions that[they]use infrequently or never.” doing. If so, it’s time to cancel.
People are often surprised to see that they regularly spend on things that are ultimately not that important. Vig says,[w]If money isn’t so tight, you can resubscribe whenever you realize you’ve missed something.
Learn more about GOBankingRates
This article originally appeared on GOBankingRates.com: 5 sneaky ways to cut your household expenses in half
[ad_2]
Source link